A93115 Distress debt: investment and management in the insolvency zone

At the end of the course studends will be able to understand:

- what is a distress situation and its main implications 

- what is the process,  the options to solve a distress situation and what are the investment opportunities

- who are the main stakeholders involved in a distress situation

To be able to recognize a distress situation, analyze the different options availabe to solve it and the agenda of the different stakeholders involved 

The course aims to provide  an introduction to the main themes connected to a distress situation, using the points of view of the company and of the main stakeholders involved to analyze the main aspects of managing and solving a crisis situation. In particular the course will describe the possible causes of distress, the options available to implement a restructuring process, the stakeholders involved and their agendas, the levers to recover economic and financial sustainability, the plan of reorganization,  the legal frameworks and the implication for potential investors. Course requires knowledge of corporate finance, basic accounting and basic knowledge of financial markets and instruments

The Course will approach the subject of distress holistically, approaching the aspects of corporate finance, strategy, operations and negotiations  involved in the restructuring process. The concepts discussed will be taken on from a practical point of view.

For students attending classes, the grade will be based on written exams, class participation, quality of the contributions to the class discussions and homeworks .

In order to be considered "attending student",  5 out of 6 lectures of presence are  required (unless otherwise agreed with the coordinator of the course).  All other students should pass an oral exam.
The program of the oral exam will be defined by the coordinator of the course.

Course evaluation will be based on the following criteria:

Attending Students:
(i) final written exam, 50%
(ii) class participation, 25%
(iii) homeworks, 25%

Non Attending Students:
Oral exams on course material and readings provided during the course